The outcome of the Brexit referendum has sent shock waves not just in Britain and Europe, but also in Japan. The outpouring of media reports and speculation, mainly pessimistic, casts a dark shadow over the future of the long-nurtured partnership between Japan and Britain. But the jury is still out.

I lived in Britain in the late 1960s, when that nation had yet to join the European Community because of the continued "Non" by French President Charles de Gaulle. I lived again in London in the late 1990s, when Britain was very much a part of Europe, and the debate was whether it would join the single currency. I have since noted Britain's metamorphosis into a diverse, multicultural, vibrant society open to Europe and the rest of the world.

When I heard that the "leave" side had won, I wondered if Britain has become inward-looking, nationalistic, populist and xenophobic. If so, what has happened over the past quarter of a century? Before jumping to conclusions, let us see what the referendum signified.